- Inland Revenue issued Technical Decision Summary No. 24/21 regarding taxation of accommodation provided by a company to an employee
- Inland Revenue argued that income tax and GST should apply as the accommodation was provided free of charge
- The taxpayer argued that tax should be based on market rental value due to the lease being for business purposes
- The Tax Counsel Office noted that the entire accommodation was available to the taxpayer, provided in connection with employment, and should be valued at market rental value for tax purposes
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
